ASX NEWS & VIEWS

Gentrack Group Limited (GTK: ASX) in Trading halt

The trading halt is being requested in connection with Gentrack Group Limited’s (ASX: GTK) proposed accelerated pro-rata entitlement offer (Offer). Reasons for trading halt relate to enabling GTK to undertake the accelerated offer of ordinary shares to institutional shareholders on 4 and 5 July 2018, followed by an institutional bookbuild of institutional entitlements to investors on 5 and 6 July 2018 in an orderly fashion. There seems to be an indication of capital raising equivalent to NZ$90 million.

Gentrack Group Limited has also announced that it will undertake a fully underwritten pro rata 1 for 5.77 accelerated entitlement offer (with any shares not taken up or attributable to ineligible shareholders being offered to institutional investors through two bookbuilds to be run by the Joint Lead Managers) of new fully paid ordinary shares of the same class as already quoted on the NZX Main Board of NZX Limited (NZX Main Board) and the Australian Securities Exchange operated by ASX Limited (ASX).

Gentrack has not sought a waiver from NZX Main Board under Listing Rule 7.5 (regulating issues of shares which could affect the effective control of Gentrack), and the Takeovers Code will also prevent any person holding or controlling 20% of more of the voting securities in Gentrack as a result of the Offer.

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